Forum

Changing details of newly acquired mature account
 

Hi all,

I have just come across this forum and am about to buy the stealth guide to assist me with ebay.

I have not had a suspension before but I have a friend who has (paypal) so I understand what it is like.

Recently I took over the ebay account and it's linked paypal account of a family member (not traded on it all since). The account has many thousands of good feedback, has been around for 8 years, and has no selling limits that I am aware of (though the place where ebay says to check to see this doesn't display the limits - I am told it has none though - the previous owner saw it say this some time last year).

My main question really is this:

Can I easily change the details over, from my family member, to that of my UK Ltd. company and link the company bank account to paypal for withdrawals?

Thanks

Re: Changing details of newly acquired mature account
 

Not wise at all.

Nothing is easy with paypal, for starters.

In all fairness until you personally have got emails from paypal that you are no longer going to be able to do business, you can not understand the feelings of horror. You have no inkling of how horrible a few words on an email can make you feel.

Do not compromise your UK LTD company for the sake of an old ebay account.
Expand on what it is doing as regards ebay/paypal at present?

What is your reasons for this method? Is this to take a chance for business reasons.

:ranger:

Re: Changing details of newly acquired mature account
 

Yes, it is a chancer. I have some good products to sell and wish to sell via ebay. In honesty, my only aim is t get rid of what I have - I don't have any long lasting plans with ebay... Does this make any difference?

Re: Changing details of newly acquired mature account
 

Its a risk. You need to understand that eBay and Paypal do not delete any records, so the current paypal account linked to that eBay account will also get limited (and your family member would get limited) if your new paypal account is added in and gets limited for any reason. Equally, should either the eBay account, or the paypal account, go down for any reason, your details - limited company, phone number, email addresses, bank details, cannot be used again.

Additionally, if you also have any other accounts with those details, they would go down also as they would be linked

Re: Changing details of newly acquired mature account
 

I do not mind too much if the paypal account and details are subsequently limited from further use with paypal, I wonder at what point it will become limited though? Will it be upon changing the details? or selling items?

Thanks for the advice so far

Re: Changing details of newly acquired mature account
 

Thanks for this, but I wasn't planning to use a new paypal account with the ebay account. I was planning to use the existing paypal account and ammend the ownership details to the ltd company.

Re: Changing details of newly acquired mature account
 

Ah, I misunderstood, apologies. Well, if its a personal ebay account, you can upgrade it to an ebay business account, then change the registered details to the name and address of the business, thats doable, I believe. If its already a business account, Im not so certain, as it may look like a "transfer of ownership", unless the ebay business account is a sole trader, then of course, details can be changed to a limited company details.

It may help if you can clarify what type of eBay account it currently is, personal, or business?

If business, was it a sole trader, or already a limited company?

Re: Changing details of newly acquired mature account
 

Thanks for getting back to me. To answer your question:

1. Both eBay and attached paypal accounts are currently personal.

I am looking to change both the eBay and it's paypal account from personal ownership of person A to ownership of Ltd company B.

I have bought and read through the stealth guide but it doesn't quite touch on this particular scenario as far as I understand.

I hope that makes things clearer :)

Re: Changing details of newly acquired mature account
 

My opinion is that this will be OK to do (although I cant speak from personal experience on this). As a Limited Company is its own legal entity, as opposed to "belonging" to an individual, change the eBay details first - to the Limited Company details, and upgrade to a Business Account, then upgrade paypal to business, and change paypal details and bank account to match the eBay account.

If your paypal account does get limited as a result (although I consider it unlikely, you never know with paypal), simply say you are now trading as a limited company, and are required to change these details by company law. They may require some proof of this to be uploaded, certificate of incorporation etc.

Re: Changing details of newly acquired mature account
 

@OP, build few new accounts and spread sales too - slowly ease in with this account...don't flat out change info from the get go

Re: Changing details of newly acquired mature account
 

Again, many thanks indeed for your helpful comments. This seems to make sense to me.

Do you think it would be likely that eBay and paypal will require documentation before or after (if at all), they decide to limit the account? I would rather get started and trading before having to deal with their obstacles.

Re: Changing details of newly acquired mature account
 

When you upgrade, you don't change to a ltd you add a LTD to your already created account keeping the original details.


In other word your family member details will always be attached.

personally I think you will get hit straight away or very shortly after.


YES There is a 99.99 % chance.

Re: Changing details of newly acquired mature account
 

My main goal is to take the account out of the ownership of the original owner and effectively make it property of the Ltd. company...

Of course, I will change the banking details from those of my family member to those of my ltd. company bank account, too.

Re: Changing details of newly acquired mature account
 

And let you have control of operating the ebay account with full responsibilty of ownwership?

:ranger:

Re: Changing details of newly acquired mature account
 

Yes, that is correct.

Re: Changing details of newly acquired mature account
 

Did you read what I wrote ? ? ?

It will never happen


You can't just change account details.

The account details will always be in the account holder name with the LTD details attached , so you would need to change your family members name and so on

Big mistake to even try to change account owners details.

when real company's change owners and have a paypal account, paypal expect you to set up a new paypal with the new owners details. then add the ltd

your about to kill a good account.

Re: Changing details of newly acquired mature account
 

Here is what Paypal say:


To upgrade to a Business Account

Log in to your PayPal account.
Click the Profile icon next to "Log out."
Click Upgrade to a business account.
Enter your business information and click Continue.



Or:

To change the name of your business:

Log in to yourPayPal account.
Click the Profile icon at the top of the page and then select Profile and Settings from the drop-down menu.
Beside 'Business information', click Update.
Click Edit.
Under your name, click Change Name.
Select Business Name Change (business name) and click Continue.
Enter your business name and click Continue.

If you added a bank account before you change your business name, you should remove the bank account and add it again to ensure the names on your PayPal account and bank account are the same.

If you don’t use PayPal to conduct business, you can change your account to an account for personal use.

Re: Changing details of newly acquired mature account
 

Do you know what exactly paypal will require for 'business information'? Will they be wanting just name of business or paperwork scanned to them, etc, etc?

Re: Changing details of newly acquired mature account
 

Initially, it will just be you typing in the details of the company and nature of the business. You may not need to upload anything at this point, depending on the nature of your business

This is what Paypal state - If we do need proof of identity documents from you, or documentation about your business, we may limit your access to certain PayPal services until we receive your documentation and confirm your identity. This may include limiting your ability to send,withdraw or receive funds.
The type of business documentation we require depends on the type of business you have.

Some organisations may be required to provide further documentation in order for us to complete our due diligence. This further account review process applies to a number of organisations including, but not limited to:

Political organisations
Charities
Associations and non-profit organisations
Financial service organisations

If I recall correctly, when I set up a Business Account, it was pretty straightforward, and when I reached the Eu Money Laundering limits, I had to provide personal ID, Driving License, Utility Bill, and for the Company, the Certificate of Incorporation

Re: Changing details of newly acquired mature account
 

If I change the bank details for withdrawal linked to the account, in the event that there is a PayPal act of irrationality and they try to charge back that account and fail, can they charge the old bank account?